In a significant legal victory for Libya, the Paris Court of Appeal has overturned a previous ruling from the Paris Primary Court. The original ruling, issued on February 12, 2018, had granted enforcement of an arbitration award in favor of three Swiss companies against Libya.
The Swiss companies, Gelouli Izmedia, Sismad for Travel, and De La Tour, had filed a lawsuit against Libya in Geneva on March 27, 2017. They sought financial compensation to the tune of 30 million euros.
However, the Paris Court of Appeal sided with Libya. The court based its decision on the argument put forth by Libya regarding the lack of jurisdiction of the arbitration body. The Swiss companies had claimed that they had entered into settlement agreements with the Libyan Ministry of Finance. These agreements were allegedly represented by an individual named Eric Graf.
The court, however, found that this representation was illegal. As a result, the Libyan state has been spared from paying the claimed financial amounts totaling 30 million euros. These claims were based on settlement agreements allegedly signed under an illegal mandate.
The Libyan Lawsuits Administration has welcomed the ruling, which marks a significant development in this ongoing legal saga.
